Contact Information

W-2 Standard Explanation

Please verify upon receipt that your name, social security number and address are correct.

For your information, pay period ending 11/30/14 dated 12/1/14 was the last pay period of the calendar year 2014 for salary payroll. For biweekly payroll, the last pay period of the calendar year 2014 was dated 12/19/14.

To assist you in understanding your W-2 form, the following information is provided:

Box 1 – Wages, tips, other compensation. Included in this box are the following items:

Gross compensation received in the tax period from January 1 – December 31 plus group-term life insurance (See C in Box 12 for amount) minus the following:

Family insurance premiums for employees participating in the University’s Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954 (See Box 14 Other – “Exempt Ins” for amount).

Box 2 – Federal income tax withheld. Federal tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “Fed W/H”.

Box 3 – Social security wages. Included in this box are the following items:

Gross compensation received in the tax period from January 1 – December 31 plus group-term life insurance (See C in Box 12 for amount) minus family insurance premiums for employees participating in the University’s Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954 (See Box 14 Other – “Exempt Ins” for amount).

Box 4 – Social security tax withheld. Social security tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “FICA”.

Box 5 – Medicare wages and tips. Included in this box are the following items:

Gross compensation received in the tax period from January 1 – December 31 plus group-term life insurance (See C in Box 12 for amount) minus family insurance premiums for employees participating in the University’s Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954 (See Box 14 Other – “Exempt Ins” for amount).

Box 6 – Medicare tax withheld. Medicare tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “MHI”.

Box 12 – Includes the following codes:

C – Cost of group-term life insurance over 50,000 (included in boxes 1, 3 (up to social security wage base), and 5.